Saudi Arabia, the world's second-largest crude exporter, is rerouting crude via dark shipments and ship-to-ship transfers off Oman. This comes after drone attacks last week knocked out part of the country’s East-West pipeline, halting 4-5 million barrels per day (bpd) of oil flow, and with the Red Sea's southern route through the Bab al-Mandeb strait now controlled by Iran-backed Houthi forces who have declared a maritime embargo. Saudi crude loadings have fallen over 70% since February, from 7.5 million bpd to around 2.1 million bpd in early September, forcing a reliance on the Strait of Hormuz despite restrictions and risks.